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GFRP Rebars Market Segmented By product type such as Smooth GFRB rebars and Sand coated GFRP rebars having Polyester and Vinyl Easter Resin Type
The traditional strengthened concrete members such as beams are composed of concrete included Portland cement and steel rebars reinforcement. The tensile and shear loads will be resisted by steel rebars embedded in the concrete. Recent technologies have resulted in alternative reinforcing materials such as GFRP materials commercially available in the form of bars that can be bonded in concrete members to fulfill several desired properties.
Glass fiber Reinforced Polymer (GFRP) Rebars are made using glass fiber as reinforcement material. Unsaturated resin with 1% MEKP (as matrix material) is used for synthesis of GFRP rebars in a manual process. GFRP surfaces are then modified by inclusion of coarse sand to increase the bond strength of these rebars with concrete.
The rebars enhance tensile and partially shear strengths. However, the problem of corrosion associated with the steel rebars reduced its life and the solutions such as the coating of the steel rebars are costly. This is driving the demand for GFRP rebars market over the forecast period.
While the GFRP rebars market is projected to grow at a healthy pace, the ongoing COVID-19 pandemic is anticipated to significantly impact the short term demand trend for GFRP rebars. The COVID-19 outbreak has resulted in shutdown of economic activity across a number of countries across the globe, leading supply chain networks to a complete halt.
On the other hand, it is expected to have a significant impact on the global economy and is expected to affect the consumer spending trends in the short term. Hence a contraction in the growth of GFRP rebars demand is expected during 2020-21, and is expected to recover sharply post the mentioned period.
Rapidly growing infrastructure development activities along with escalating construction spending are the key factors driving the demand for GFRP rebars market in the coming years. The corrosion issues regarding conventional reinforcement techniques are enhancing the adoption of non-corrosive GFRP rebars in the infrastructure industry.
Nearly 25% of construction failures are caused by corrosion. Inefficiency due to steel reinforcements which causes concrete failures is expected to have positive impact on the growth in demand for GFRP rebars over the stipulated period.
Moreover, it is easier for GFRP rebars to bond with concrete irrespective of moisture, pH and other external factors. GFRP rebars have advanced thermal compatibility which enables zero stress when responding to temperature variations. These is anticipated to propel the demand for GFRP rebars market during forecast period.
Manufacturers are focused on development of technologically advanced GFRP rebars having polymer resin matrix to transfer load between fibers and high strength. These developments are projected to enhance the product penetration over the coming years.
Contrasting conventional materials, GFRP rebars does not have standard specifications and codes pertaining their applications. This is expected to restrain the growth of GFRP rebars market.
In addition, some constraints such as inadequate data for long term field performance, limited experience with raw materials and high initial cost requirement are also likely to hamper the growth in demand for GFRP rebars market.
The ongoing crisis caused by the COVID – 19 pandemic, brought a significant impact in the construction industry. Due to the pandemic general economic health of various countries coupled with the lack of public funding on infrastructure projects both threaten to slow down the market thereby reducing the demand for GFRP Rebars market.
Almost 40 – 50% of institutional as well as commercial projects were delayed due to the pandemic. However, there is a slight window of improvement in the market as companies as well as raw material suppliers continue to execute the projects to avoid liquidation damages.
The global GFRP rebars market can be segmented on the basis of product type, resin type and application.
On the basis of product type, the global GFRP rebars market can be segmented as,
On the basis of resin type, the global GFRP rebars market is segmented as,
On the basis of application, the global GFRP rebars market is segmented as,
North America is expected to have dominating share in the global GFRP rebars market owing to highest application in roads, tunnels and bridges. U.S. and Canada projected generate significant demand for GFRP rebars in marine and water front structural applications as well.
European countries such as Germany, UK, Italy, France, etc. are generating moderate demand in construction applications mainly for public infrastructure. Attributing to this stable growth is observed in Europe GFRP rebars market.
Asia Pacific is expected to grow with highest growth rate in the GFRP rebars market owing to significantly increasing industrial and residential construction activities in the countries like China, Japan, India, etc.
Middle East & Africa are expected to have remarkable growth rate in the global GFRP rebars market. This growth is attributable to the government initiatives for infrastructure development activities in the countries from region.
Amongst 2 product types of GFRP Rebars, the sand coated GFRP Rebars segment is expected to create higher incremental opportunity during the forecast period. The inclusion of coarse sand on rebars increases the bond strength along with concrete. Sand coated GFRP Rebars exhibit a higher flexural strength, tensile strength and compressive strength.
“The GFRP Rebars market is witnessing a strong growth trend, attributed to the increasing demand for stronger structural infrastructure. As an alternative material to steel rebars, GFRP rebars provide superior performance in terms of mechanical performance along with less handling, storage and transporting problems.
Since the upgradation and the maintenance of old structures have become a major concern for the construction industry, GFRP rebars reinforcement have a high demand in restoring strength to various structures such as buildings, seawalls, bridges amongst many others. These are some of the factors which are increasing the demand for the GFRP Rebars market.”
Major market participants in the global GFRP Rebars market identified across the value chain include:
The GFRP Rebars research report presents a comprehensive assessment of the GFRP Rebars market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The GFRP Rebars research report provides analysis and information according to market segments, such as geographies, application, and industry.
The GFRP Rebars global report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The GFRP Rebars report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.